“The initiative, called Marco Polo comprised of a group of the world’s leading banks, together with trade finance technology specialist TradeIX and enterprise software firm R3, are piloting their trade finance solution leveraging distributed ledger technology following a successful proof-of-concept.

Since launching in September 2017, with BNP, Commerzbank and ING as core banks, the initiative has attracted significant interest from the global banking community, with additional banks including Standard Chartered, DNB, and OP Financial Group joining in recent months.”